Agrico Acquisition, a blank check company targeting agricultural technology in the Americas, raised $125 million by offering 12.5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
Agrico Acquisition is led by CEO and Chairman Brent de Jong, the Managing Partner of Houston, TX-based family investment firm De Jong Capital, and Chairman of Emergent Technology Ltd. The SPAC's CFO Roberto Silva currently serves as the CFO of De Jong Capital and CFO of oil and gas company Savia Peru.
The company plans to target businesses in the agriculture, horticulture, and aquaculture industries that aim to improve yield, efficiency, or profitability in the production, processing, distribution, provision of capital, or consumption of outputs, inputs, data, technology, or other services ("AgTech").
The Cayman Islands-based SPAC plans to list on the Nasdaq under the symbol RICOU. Maxim Group LLC acted as sole bookrunner on the deal.
